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[Clive]

Peterc don't you work for a loizou - I would have thought you would have had a bit of inside "Knowledge" re these prices / why they're at auction etc.

[Svetlana]

So, 3 properties sold at Auction and two 'prior' to Auction; I wonder if this is regarded as a success? I suspect not, the advertising budget was around £40,000, I was told by an insider, plus other costs.

It will be interesting to see if they will run another. I think Harrisons will be running a third Auction.

Lana

[Peterc]

Peterc don't you work for a loizou - I would have thought you would have had a bit of inside "Knowledge" re these prices / why they're at auction etc.

I do Clive, but even so, it didnt help me get it. with hindsight should have bid higher. Quite disappointed actually

[Peterc]

So, 3 properties sold at Auction and two 'prior' to Auction; I wonder if this is regarded as a success? I suspect not, the advertising budget was around £40,000, I was told by an insider, plus other costs.

It will be interesting to see if they will run another. I think Harrisons will be running a third Auction.

Lana

Hi Svetlana, you keep mentioning that you have an insider, they are obviously winding you up as 3 sold prior, 4 in the room and a couple post auction. http://www.aloizou.com.cy/auctions/ I would have said that thats a success. bearing in mind one alone sold at £570,000. work out the commission.

[Svetlana]

Hi peterC

Yes, I know my friend was concerned about a month or so ago, hence the vigorous Marketing campaign. I do not know what the commission %age that was charged, but at 5% the return would have been around £80k, so even with the actual costs of running the event and Stretton's margin, it didn't lose money. If the commission charges were higher, then of course there would have been an even better return.

Do you know what commission was charged?

Lana

[Peterc]

i do lana

[Svetlana]

As I recall, Harrisons were charging the Buyer and Seller a combined commission of about 6% +VAT, plus advertising costs - which as they were not registered Estate Agents - could not be set against Capital Gains Tax.

For their next Auction, later this month, they are charging Buyers 2.5% but seem a bit coy about Vendor charges.

Lana

[Peterc]

As I recall, Harrisons were charging the Buyer and Seller a combined commission of about 6% +VAT, plus advertising costs - which as they were not registered Estate Agents - could not be set against Capital Gains Tax.

For their next Auction, later this month, they are charging Buyers 2.5% but seem a bit coy about Vendor charges.

Lana

I am sorry to say that I have no knowledge on how Harrisons work or how their business is conducted, but, with no disrespect to you, if your information above is as good as your information regarding your Antonis Loizou Auction, then this conversation is pointless.